argenex (NASDAQ:ARGX) Sets New 12-Month High After Analyst Upgrade
argenex (NASDAQ:ARGX) reached a new 52-week high after Citigroup raised its price target from $1,041.00 to $1,124.00, maintaining a buy rating. The stock traded as high as $934.13, closing at $929.61. Other analysts have varied ratings, with an average rating of 'Moderate Buy' and a price target of $903.78. Institutional investors have increased their holdings, and the company reported strong earnings, surpassing expectations.
argenex SE (NASDAQ:ARGX - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $1,041.00 to $1,124.00. Citigroup currently has a buy rating on the stock. argenex traded as high as $934.13 and last traded at $929.61, with a volume of 430051 shares. The stock had previously closed at $907.98.
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Several other research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut argenex from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. HC Wainwright boosted their price target on shares of argenex from $774.00 to $915.00 and gave the stock a "buy" rating in a report on Friday, October 31st. Wedbush increased their price target on shares of argenex from $880.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Friday. Wall Street Zen upgraded shares of argenex from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Finally, Morgan Stanley boosted their target price on shares of argenex from $766.00 to $1,040.00 and gave the company an "overweight" rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $903.78.
Read Our Latest Stock Report on argenex
Institutional Investors Weigh In On argenex
- 5 medical stocks growing earnings by triple digits
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors boosted its position in shares of argenex by 0.4% in the third quarter. Capital World Investors now owns 1,959,504 shares of the company's stock valued at $1,445,113,000 after acquiring an additional 8,422 shares during the period. Wellington Management Group LLP lifted its stake in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock worth $538,408,000 after purchasing an additional 324,653 shares in the last quarter. Bank of America Corp DE boosted its holdings in argenex by 1.9% in the 3rd quarter. Bank of America Corp DE now owns 342,379 shares of the company's stock valued at $252,525,000 after purchasing an additional 6,259 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of argenex by 114.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company's stock valued at $163,775,000 after purchasing an additional 158,476 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of argenex by 570.3% in the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company's stock worth $216,961,000 after purchasing an additional 250,278 shares during the period. 60.32% of the stock is currently owned by institutional investors.
argenex Price Performance
The stock has a market cap of $57.24 billion, a P/E ratio of 39.91, a PEG ratio of 0.93 and a beta of 0.45. The firm's fifty day moving average price is $802.57 and its two-hundred day moving average price is $674.85.
- Argenx's 28% Surge & Promising Product Propel Investor Confidence
argenex (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, topping the consensus estimate of $4.37 by $0.03. argenex had a return on equity of 29.78% and a net margin of 41.58%.The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.07 billion. On average, research analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.
argenex Company Profile
(Get Free Report)argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.
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